Problem Statement: ME Board October 1996
A deposit of P1,000 is made in a bank account that pays 8% interest compounded annually. Approximately how much money will be in the account after 10 years?
- A. P1,925.00
- B. P1,860.00
- C. P2,345.00
- D. P2,160.00
The money will be equal to P2,160.00 after 10 years.
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